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Austin Market Rising in 2020

February 23, 2020 5:30 pm

The market for homes in Austin TX is rising in 2020. What does that mean for new home buyers?

Recent surveys of real estate experts and economists showed that the majority of experts view Austin as one of the top real estate markets in the country. What’s more, they expect the city to remain at the top for the foreseeable future. Over the long term, Austin home prices will continue to rise. That means the time to buy is now. Buyers who want a new home in Austin shouldn’t wait any longer to get in on the action.

New residents are moving to the city in large numbers and increasing the demand for housing. Between 2010 and 2019, the city’s population grew by 20.2%, according to the US Census Bureau. More than 2 million people now live in the Austin metropolitan area, which includes the popular city of Round Rock. The main draw in Austin is the healthy job market. The metropolitan area has only a 2.5% unemployment rate.

Zillow conducted a survey of industry experts that predicts that home prices in the Austin area will rise by 2.8% over the course of the coming year. Other sources think the increase may be even larger. The survey also indicated that the Austin housing market will most likely outperform the national average home price growth in 2020.

This is good news for people who buy their homes now. Rising prices mean owners gain equity faster than they would in a stagnant market and their homes become more valuable.

Buffington Homes can help you get ahead of the booming housing market in Austin. Grab one of our Quick Move-In Homes to secure your spot in one of the master planned new home communities in the metropolitan area. We have homes available now in San Marcos, Round Rock, Manor and Whisper Valley.

You can also choose a floor plan and lot in one of our communities throughout the greater Austin area and let us build your new home from the ground up.

Call or text Buffington Homes today at 512-856-5664 to schedule a showing of our Quick Move-In Homes or to tour any of our communities of homes in Austin TX.

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